1200 Scharbauer DrMidland, TX 79705

Property Details for 1200 Scharbauer Dr

Year built

1981

Property size (Sq ft)

6,720 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of five single-family rental homes located on Scharbauer Drive in Midland, Texas, 79705. The property, built in 1981, boasts a total of 6,720 square feet of net rentable space, with each unit commanding a price of $226,000. Currently operating at 100% occupancy, the portfolio generates a substantial net operating income (NOI) of $76,890 annually, representing a compelling 6.80% capitalization rate. The asking price for the entire portfolio is $1,130,000, translating to $168.15 per square foot. The properties are situated at 1200, 1202, 1204, 1210, and 1214 Scharbauer Drive, offering convenient access to local amenities and infrastructure. With a combined monthly rental income of $8,000, this portfolio provides a stable and lucrative investment opportunity in a thriving Texas market. Two parking spaces are available across the five units. This is a turnkey investment, ideal for those seeking immediate cash flow and long-term appreciation potential. The portfolio's strong performance and high occupancy rate make it an attractive proposition for discerning investors.

Location Insight

City

Midland

County

Midland

State

Texas

Latitude

32.0144

Longitude

-102.093

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